LVMH files countersuit against Tiffany in US court

The world’s biggest luxury group LVMH filed a countersuit against New York-based Tiffany & Co in a Delaware court on Monday, claiming conditions to close its $16bn buyout of the luxury jewellery retailer were not met. The countersuit follows legal action launched by Tiffany earlier this month after LVMH backed out of its takeover. “LVMH continues to have full confidence in its position that the conditions necessary to close the acquisition of Tiffany have not been met and that the spurious arguments put forward by Tiffany are completely unfounded,” the owner of Louis Vuitton said in a...